Friday, September 14, 2012

Republican Leader Finally Admits That Federal Spending Cuts Kill Jobs

By Rebecca Leber/Think Progress
It’s an article of faith amongst Republicans that government can’t create jobs, and that cutting government spending will lead to job growth. Republicans even pushed the nation to the brink of a debt default in order to secure cuts in federal spending in 2010.
But with the consequences of that debt ceiling deal due to hit in January — at which point the so-called “sequester” will cut into both military and non-defense discretionary spending — House Majority Leader Eric Cantor (R-VA) is seemingly having a change of heart. On Thursday he tweeted that the sequester would hurt federal spending in key areas, and thus kill jobs:
Earlier this week, Cantor was unable to name a single deal Republicans would be willing to make to prevent the slew of cuts — cuts that Cantor himself voted for. Plus, as the Bipartisan Policy Center reports, the House Republican budget that Cantor supported cuts “more than double the amount” of the sequester. This budget would sink domestic spending to its lowest level in 50 years. Meanwhile it prevents cuts to military spending already endorsed by military leaders.
This chart shows that the House Republican’s budget cuts non-defense spending dramatically. The “BCA+sequester” line is the path of non-defense discretionary spending under both the debt ceiling deal (the Budget Control Act and its sequester), while the light blue line is the Republican budget:
Post a Comment